Chang seems to suggest that developing closer relations between Transaction Cost Economics (TCE) and the Resource-Based View (RBV) is not yet needed. However, we are unmoved in our belief that this development is compelling and remain committed to our approach to pluralism. We disagree with...

In his elegant book Douglas Allen claims that an improvement in the measurement of Nature made for lower transaction costs and the Industrial Revolution. His argument is a typical example of neo-institutionalism in the style of Douglass North (<CitationRef CitationID="CR14">1990</CitationRef>) and North et al. (<CitationRef CitationID="CR16">2009</CitationRef>). A fall in a wedge of...</citationref></citationref>

We suggest, in a Coase-Demsetz perspective, that the social demand for individual rights—or freedoms (whether civil, political or economic)—is derived from, because complementary to, the changing size of hierarchical organizations. The general downsizing and decentralization process observed...

This review essay discusses and appraises Douglas Allen’s The Institutional Revolution (<CitationRef CitationID="CR2">2011</CitationRef>) as a way of reflecting on the uses of the New Institutional Economics (NIE) in economic history. It praises and defends Allen’s method of asking “what economic problem were these institutions...</citationref>

When there are three parties, instability problems brought about by the emptiness of the core of the corresponding cooperative game may cause the Coase Theorem to fail, even when other more direct impediments to bargaining are low. We show that the standard Coasean bargaining game involving...

In recent years there has been a dramatic increase in delistings from stock exchanges in the US and Europe, and this trend has been partly attributed to increasing administrative costs in listed companies. Has corporate governance regulation gone too far? We examine delistings from European...

We argue that although halal certification could potentially reduce the high transaction costs related to buying Islamic financial products, in practice these costs are just replaced by transaction costs relating to the certification itself. It takes considerable time (2–3 months) and money...